Atlas Energy Solutions (NYSE:AESI) Shares Gap Down to $21.97

Atlas Energy Solutions Inc. (NYSE:AESI - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $21.97, but opened at $20.53. Atlas Energy Solutions shares last traded at $23.61, with a volume of 390,583 shares.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AESI. Royal Bank of Canada lifted their target price on Atlas Energy Solutions from $23.00 to $25.00 and gave the stock an "outperform" rating in a report on Wednesday, February 28th. The Goldman Sachs Group began coverage on Atlas Energy Solutions in a report on Thursday, March 14th. They set a "buy" rating and a $24.00 target price for the company. Raymond James lifted their target price on Atlas Energy Solutions from $26.00 to $27.00 and gave the stock a "strong-buy" rating in a report on Tuesday, April 16th. Finally, Barclays boosted their price target on Atlas Energy Solutions from $23.00 to $26.00 and gave the company an "overweight" rating in a report on Tuesday, March 5th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $25.17.

Atlas Energy Solutions Trading Up 4.4 %

The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 14.61, a P/E/G ratio of 0.54 and a beta of 0.66. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.21 and a current ratio of 3.44. The company has a 50 day moving average price of $21.99 and a two-hundred day moving average price of $19.05.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.61 by ($0.24). The company had revenue of $141.14 million for the quarter, compared to analyst estimates of $147.34 million. Atlas Energy Solutions had a return on equity of 47.40% and a net margin of 17.17%. On average, research analysts forecast that Atlas Energy Solutions Inc. will post 2.93 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 22nd were paid a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This is a positive change from Atlas Energy Solutions's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.66%. Atlas Energy Solutions's payout ratio is currently 40.76%.

Insiders Place Their Bets

In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 50,000 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $19.97, for a total value of $998,500.00. Following the completion of the sale, the insider now owns 970,738 shares in the company, valued at approximately $19,385,637.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO John Gregory Turner sold 3,728 shares of the company's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $22.58, for a total value of $84,178.24. Following the completion of the sale, the chief financial officer now owns 1,582,303 shares of the company's stock, valued at $35,728,401.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Stacy Hock sold 50,000 shares of the firm's stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $19.97, for a total transaction of $998,500.00. Following the sale, the insider now owns 970,738 shares of the company's stock, valued at $19,385,637.86. The disclosure for this sale can be found here. Insiders have sold a total of 246,860 shares of company stock valued at $5,332,121 in the last 90 days. 24.34% of the stock is owned by insiders.

Institutional Trading of Atlas Energy Solutions

Hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP acquired a new position in shares of Atlas Energy Solutions in the 1st quarter valued at $592,000. Central Pacific Bank Trust Division acquired a new position in shares of Atlas Energy Solutions in the 1st quarter valued at $396,000. Capstone Investment Advisors LLC lifted its stake in shares of Atlas Energy Solutions by 9.2% in the 1st quarter. Capstone Investment Advisors LLC now owns 545,859 shares of the company's stock valued at $12,347,000 after purchasing an additional 45,859 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Atlas Energy Solutions in the 1st quarter valued at $202,000. Finally, Outfitter Financial LLC lifted its stake in shares of Atlas Energy Solutions by 6.4% in the 1st quarter. Outfitter Financial LLC now owns 36,740 shares of the company's stock valued at $831,000 after purchasing an additional 2,200 shares during the last quarter. Hedge funds and other institutional investors own 34.59% of the company's stock.

Atlas Energy Solutions Company Profile

Atlas Energy Solutions Inc engages in the production, processing, and sale of mesh and sand that are used as a proppant during the well completion process in the Permian Basin of Texas and New Mexico. The company provides transportation and logistics, storage solutions, and contract labor services. It sells its products and services to oil and natural gas exploration and production companies, and oilfield services companies.